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Mar 21, 2012 7:00pm PDT
tone today. energy stocks were hurt by oil driller baker hughes warning its profit margin will fall as north american customers stop drilling for natural gas. shares got drilled, falling almost 6% on heavy volume. shares have been trending lower for at least a year as the drilling rig industry has been shifting away from natural gas due to historically low prices and looking for oil instead. that shift can raise costs, hurting profit margins. other large oil service stocks saw less selling. nabors fell 3%, schlumberger was down 2%, and halliburton fell less than 2%. analysts suggest the baker hughes challenges are its own and not industry-wide. the warning from the number three oilfield driller comes as energy prices continue climbing. crude oil settled up more than $1 per barrel, raising above $107 per barrel. the u.s. energy department said crude oil supplies fell in the past week while the market was expecting supplies to increase. also in energy, we learned after the closing bell, three giants are talking about teaming up to ship liquified natural gas from the u.s. to asia. acco
Mar 22, 2012 4:00am EDT
but winter sales were the best in five years. h.p. was the biggest drag on the dow. meanwhile, baker hughs weighed down the s&p with a profit warning. green mountain perked up 10% on word starbucks will make coffee packs for a single-cup brewing system. >>> the "hunter games" will be a big box office hit. safely, food lion and supervalue have agreed to stop selling ground beef made with so called pink slime. this morning, $300 million to guarantee it will continue making car ins that country for another decade. ahead of a previous, kraft's new name. the company will be called monda lees, meaning delicious world. >>> finally, time is running out if you want to get your hands on a few pieces of history. a white chiffon gown worn by princess di and elvis' presley's blue suede shoes are both up for sale. the knicks seem perfect under their new coach. plus, kobe bryant and the lakers get fancy. your early morning sports headlines are straight ahead. >> warm weather continues to be the big story across the country. you're watching "early today." >>> a very good morning to you. if you're just wak
Mar 22, 2012 5:00pm EDT
to be long earnings and to guy's point. baker hughes yesterday and fedex today, not only rung people's bells but woke people up on what margin compression could start to look like when costs are this year. this is what the fed doesn't get. they don't run businesses. ben bernanke -- >> can you put baker hughes in that category. baker hughes has a problem with shifting towards -- away from natural gas. they are sort of left flat-footed so it's not just necessarily rising costs. >> baker hughes saw a 400 to 500 basis point draw down in the margins so margin compression is a big issue. when we look at big cyclicals which are short something like freeport, people say i buy it because it's cheap. you don't buy a cyclical when it's cheap and margins are coming down like this. before you know it the stocks are getting down when it get more expensive. >> where are we for the week? stocks are on track for the worst week of the year. equities are still intact and you can find the proof by checking the charts. let's bring in michael harris, director of trading at campel & company. michael in, terms of w
Mar 22, 2012 2:00am PDT
on the dow. meanwhile, baker hughes weighed down the s&p with a profit warning. >>> green mountain perked up. they will make coffee packs for starbucks brewing system. hunger games will be a big box office hit. >>> safeway and super value agreed to stop selling ground beef made with pink slime due to complaints of the controversial filler. >>> gm will continue making cars for another decade. kraft's new name for snack brands is getting mixed reviews. two employees meeting delicious world. >>> finally, time is running out. if you want to get your hands on a few pieces of history. a white chiffon gown worn by princess di and elvis' blue suede shoes are for sale online. >>> gas prices keep rising as the cost of oil goes up. last night on ""the ed show"" the cause is not supply and demand. if speculation were prohibited the price of oil would drob drastically. >> there's more supply available than three years ago when the price was $1.90 a gallon. there's less demand than 1997. we are not looking at a supply and demand problem. what we also know is that over 80%, repeat, over 80% of the oil futu
Mar 21, 2012 5:00pm EDT
event. if you lock at baker hughes who made an announcement that the guidance is we have a weaker out come in the first quarter. demand for oil rigs is much greater than it is for gas rigs. the drilling has gotten to be so profitable, that's great for the american consumer and great for america. it's happening in a ripple effect. baker hughes that sold off over 5% isot a broken company. there is a new dynamic in place, but this company is trading at ten times earnings. this is a buy on weakness despite the fact that there is a paradigm shift and the hydro fractioning doesn't mean that the drilling doesn't become a major part of the next decade. >> for he's right, you have to go back to the stocks where they will build out this natural gas infrastructure and it's at a 52-week high. hard to say i will pull the trigger, but if that's a correct call and oil will be higher, but it's hard to ignore west port. >> how about the people who make the engines? >> it's the commons. >> and the companies that make the components for that stuff. >> if you really want to play everything and go with a
Mar 7, 2012 11:00pm EST
over the place. today we had a huge gain in ensco, offshore driller. but halliburton and baker hughes barely budged. why? because while oil is sky-high, gas is a new low. you use ensco to drill in deep water. baker hughes and halliburton drill for natural gas. hardly a day goes by without some natural gas producer cutting its drilling budget for the dry stuff. and then there is the oils themselves. price of crude rallied more than a buck today. hey, they're all supposed to go up, right? apache went up. chevron went up. nothing at exxon. occidental, which is the most levered of all the majors to oil went down. that's right. the one that should have gone up, the one that is really i think the best one if you want to play oil, lost money. gold. all right. precious metal bounced back nicely today. it's good. a good bounceback. so you buy the miners, right? numont and gold corp were down. barrett gold barely budged. we're seeing these divergences all over underneath the averages. apparel. this group traded lockstep last year. lululemon up $2.60. deckers, the fabulous company behind uggs, f
Mar 21, 2012 9:00am EDT
big stock stories of the day. baker hughes warns and oracle beats guidance's mediocre hardware continues to disappoint. >>> who could get an ipad boost? telecom. we have to start off with fed chairman ben bernanke later this hour. he and treasury secretary tim geithner of scheduled to testify on the european debt crisis before the house oversight committee. according to prepared remarks, bernanke says he is comforted by an easing of europe's financial troubles. he also suggests financial institutions have some potential exposure to losses. he does say that major u.s. banks are not vulnerable. still, european banks may suffer losses. what we've seen time and time again throughout the past year and a half or so is that the u.s. banks still take the keys from european banks when it comes to trading. >> i think of late we've seen a little bit of delinkage. i like to focus on morgan stanley. that's the one the shorts have often targeted, believing they have a weaker balance sheet. i think it's totally untrue. but when you look at the way morgan stanley trades, it often trades with a
Mar 15, 2012 4:00am PDT
baker hughes inside for a reason. he is facing several federal charges over campaign finance violations including using $1 million to hide her pregnancy while he thought the white house in 2008. he has pleaded not guilty. >>darya: we are back with more in a couple of minutes. here is a live look in san jose. the camera is doing pretty well. san jose has feared pretty well for the storms. we will talk about the rain totals and see what we can expect in your neighborhood. of >>george: a fatal accident on highway 13. so far there is only a minor back up. >>darya: were here is a look at storm tracker 4. right now we are getting a little bit of a break. this life is unfair in san jose, nearly any lanes here if
Mar 28, 2012 3:00am EDT
of circumstances befuddling baker hughes. they are better. now, weatherford has real management issues, but at $15.93, i think you will buy decent money there if you don't use the start loss orders that i told you about. another group that could play out against the shoot first, no questions asked crowd. tomorrow morning, family dollar reports. while the dollar stores are all smoking hot. family dollar, a real laggard. not executing as well as the other guys. is it not the kind of executioner i like. so today i have an idea for home gamers. today, dollar general announced a 25 million share secondary. at that moment, pick up your phone, call your broker, or whatever you do with the online stuff and get dollar general on that secondary. they already got knocked back a buck and a half and could get hit again off the collateral damage of family dollar -- not like the hedge fund, jim. you don't do that stuff anymore, remember your anger management class. anyway, you might get the perfect entry point for this premier dollar store stock. bottom line, i never tire of saying. 2012 is a whole lot different
Mar 22, 2012 5:00am EDT
on the market was baker hughes. it drove a selloff in energy shares. and as gas prices continue to climb past the $4 benchmark in parts of the country, the m.o. capital markets joining them saying $5 gasoline is a real possibility. and right now, the biggest refinery closures on the east coast is raising speculation of gas shortages. looking at data from the energy department, bloomberg says the east coast will have lost nearly half of its refining capacity in six months by july. ok, let's talk about your hometown team, the orioles. forbes rated the 30 major league baseball teams and says the orioles are valued at $460 million, so that ranks them number 19, up 12% from last year. if you're wondering who's number one, no shocker, the yankees. actually they're worth about $1.8 billion. live from the new york stock exchange, i'm jane king, bloomberg news, reporting for wbal-tv 11 news. >> with a b? >> right. >> i think i could have even guessed that. >> yeah, yeah, with a b. no-brainer. >> there you go. starbucks has a new way to perk you up in the morning, and it has nothing to do with coffee,
Mar 21, 2012 1:00pm EDT
, but oil service stocks are down, baker hughes talking slightly lower profits. natural gas, sharon, is a real problem. and demand is still muted in the oil industry. sharon. >> you're absolutely right. we did get some of those demand figures from the energy department today. you know where cushin, oklahoma, we are looking at the futures, wti contract got bit of a bid today. we learned supplies for overall fell last week and we saw a decline for the first time in four weeks. that might be what caused the slide but traders looking at the spread between brent and wti. something to keep your eye on this trading session. sue, back to you. >> sharon, thank you very much. let's switch on the "power lunch" power surge and drill down on the stories driving the day. two of the main men getting grilled on capitol hill today. speaking about the banking system's exposure to europe. our steve liesman monitored today's hearings. steve, it seems the remark about energy may have actually been the market mover here. >> yeah. for a little while there, sue, markets seemed to take a modest dip as fed c
Mar 22, 2012 1:00pm EDT
oil services have been under pressure. baker hughes had specific comments that effected them this week. believe me, all the other stocks have been down in this particular sector. exploration and production companies that are weak right across the board. this is a one-week chart. they're down rather noticeably. one week you see pressure on it that began in the middle of the week. elsewhere you can see some of the shipping companies. companies that ship iron ore or that oversee shipping, these are oil tankers, essentially. they ship dry goods and other kinds of minerals around. all these have been under pressure the last two days. they're down 2 and 3% as well today. finally, keep your head straight here. this has been an incredible quarter. we're up 10.7%. this is the s&p 500 quarter-to-date. 10.7%. that's one of the best quarters we've had in years. now, last quarter we were up about 11%. so this is not quite the amazing quarter that we had yesterday. but we still have a few days to go. and bottom line, tyler, is it's still been an excellent quarter overall. >> bob, thank you very much
Mar 22, 2012 12:00pm EDT
an economy as we hoped we would a year ago. that's what they say today. >> baker hughes. >> on the heels of yesterday negatively coming out. too much north america pressure pumping business. oil service, i like the group but i think you go to shlumburger. >> 40% on the comps from china so any time you get a whiff that china is going to slow more than people expected they have to get hard hit here. i can't figure out the demand to slow but if you're in it, wait for another pop. >> john rutledge is coming up later and can say he's a buyer. why it's a good buy right now. las vegas sands, popping 1%. >> only 1% but means a lot in this space. las vegas, singapore, junket approval today. a catalyst. outperforming the market and the group. still upside here. i would be a buyer still. >> earth. space tourism company announced that ashton kutcher is a 500th person to buy a ticket on the ship meaning he may be launched off the planet. faa said that the commercial space industry could be worth a billion dollars in ten years. no word on whether charlie sheen plans to make the trip. >> who's shooting
Mar 28, 2012 9:00am EDT
cuts for the life of a baker hughes which is caught flat afoot in terms of their exposure to natural gas as opposed to oil. >> and now we're looking at severe capacity limitations, right? not enough places in the country to put this stuff. >> other than for a power plant, and some chemical companies, not a lot of people have been able to figure out how to be able to harness it and one of the things that does drive me crazy, exxon, which is the largest producer of natural gas in the country does not endorse it as a surface fuel, only endorses as a fuel for utilities, but the amount of switching that could be done over the next couple of months and years, it's done, the companies that have switched to natural gas have switched to natural gas. >> a lot of them have done it. we've seen an impact on coal stocks to use a broad term there, many down sharply yesterday, in my area of the world, m & a, the largest buyout was by kkr, energy future holdings now i believe, it's been crushed now as a result in terms of natural gas prices moving down substantially. >> that is going to be the possib
Mar 26, 2012 9:00am EDT
by about .9%. there's very little that's down. baker hughes does stand out. delayed call, the rest of the sector is doing decently in terms of oil services and oil. >>> the prime brokers, the story in the ft is that they will have to. some of the big banks saying, hey, to do some of the trades, when it comes to more complex derivative straight trades, that will just get passed long from the hedge fund to the clients. >> i think people at home are kind of mystified about what the dichotomy between their costs are going down a trade. these guys costs are going up. it's a total function of the fact that this whole industry, the wall street industry is really going toward the fax model, it has nothing to do with it. believe me, that's involving big institutions, not then. and the little guy's been driven out. no one wants the little guys as a client. and the little guy is really mystified how a stock could go public and not open. >> the conversation we have had so many times and we had with bob so many times are just gone. the only question is are they going to come back ever? >> the r
Mar 22, 2012 9:00am EDT
today are down. yesterday there's concern about bhi, baker hughes and snack gas. >> i think the oils have been the silent china play and as long as china's cooking people feel oil can go higher and also terrorism and also iran. this upgrade from sell to hold is i think a line in the sand saying this is where you have to go. they have good dividend boost coming and these are stable. it's the group to watch at home if you're worried about global slowdown. >> there is an interesting story about exxon, bp in conoco talking about building a pipeline for natural gas. >> if they play that and don't get government support it will be a natural disaster. natural gas is abundant in the lower 48. this is the kind of thing i throw my hands up and say please! it's the united states lower al. too expensive. >> lion's gate 52-week high yesterday, pulling back a little bit. this ramp is incredible. >> this is too much. i've been waiting for 120 million this weekend with "hunger games." take off half now. upgrade. there's a downgrade and upgrades. this is too great a sttrajector for one movie. time to
Search Results 0 to 24 of about 25 (some duplicates have been removed)